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A Peek Into The Markets: US Stock Futures Down Ahead Of Earnings, Jobless Claims Data

U.S. stock futures traded lower in early pre-market trade, following a rise in the stock markets on Wednesday. Investors are awaiting earnings results from Best Buy Co Inc. (NYSE: BBY), BJ's Wholesale Club Inc (NYSE: BJ), Hormel Foods Inc. (NYSE: HRL), NVIDIA Corporation (NASDAQ: NVDA) and Hewlett Packard Enterprise Company (NYSE: HPE). Data on new unemployment claims for the latest week and the Philadelphia Fed general conditions index for May will be released at 8:30 a.m. ET. The flash Composite Purchasing Managers' Index for May will be released at 9:45 a.m. ET, while data on existing home sales for April and the index of leading economic indicators for April is scheduled for release at 10:00 a.m. ET. Federal Reserve Bank of New York President John Williams is expected to speak at 10:00 a.m. ET, while Federal Reserve Vice Chairman Richard Clarida will speak at 1:00 p.m. ET. Federal Reserve Chairman Jerome Powell is set to speak at 2:30 p.m. ET, while Federal Reserve Governor Lael Brainard will speak at 2:30 p.m. ET.

The U.S. is now the epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. Total COVID-19 cases in the U.S. exceeded 1,551,850 with around 93,430 deaths. Russia reported a total of at least 317,550 confirmed cases, while Brazil confirmed over 291,570 cases.